Need emergency cash? Personal loan works for those who don't like surprises

• An important benefit of a personal loan is that it offers a fixed repayment schedule and a fixed interest rate.
• It works for those who need to borrow money, wants to know, and set aside monthly payment ahead of time and don't want any surprises of larger-than-usual EMI along the way.
• If you have a significant expense and need time to pay off over several years, a personal loan is a good option as it gives you a tenure of five years. 
• If you have substantial high-interest debt, like a couple of credit cards debt, and you want to consolidate this high-interest debt into a new loan at a lower rate, avail a personal loan. 
• Most lenders are willing to lend you a maximum loan amount up to 10 times of your monthly salary. But if you borrow too much, your budget might go for a toss. 
• Skip personal loans- when you splurge for a holiday, new iPhone or lifestyle expense you cannot afford.